Credit unions pride themselves on the quality of member service and the personalized attention they give their members. However, as the world moves toward digitalization and a large part of member service is now conducted online, credit unions must do everything they can to create high-quality digital member services (DMS).
Understanding what digital services members want and need is the first step to creating a DMS platform that members can rely on and enjoy. While speed, efficiency, and a user-friendly interface are key aspects of any DMS platform, it will take more than that to completely satisfy members. Here's a better idea of some of the features and services members want from a DMS platform and how you can provide them.
3 Ways to Build a Seamless Digital Member Experience
To stay ahead in the digital landscape, it's essential to understand that a comprehensive digital member experience extends far beyond just assisting members in times of need. It encompasses every online interaction your members have with your brand, spanning from your website to chatbots, social media, and push notifications.
For your credit union to remain competitive, it must prioritize creating an intentional digital member service platform that delivers a seamless experience for its members.
#1 Know Your Audience and Fix What’s Broken
Getting feedback from your members is crucial. Use data and member feedback to identify what works and what needs improvement. This continuous improvement process ensures a well-thought-out digital experience that aligns with your credit union's core tenets.
#2 Ensure Consistency Across All Channels
Consistency is key. Members should have a uniform experience across all digital channels. Avoid involving too many third-party vendors that could create a disjointed experience. Strive for a cohesive, frictionless DMS platform.
#3 Partner for Seamlessness
Many credit unions partner with third-party fintech companies to offer various digital services. However, this can lead to a fragmented DMS experience. Instead, consider partnering with a quality core provider technology that consolidates your DMS into one seamless, single-channel experience.
What Key Features Create a Quality DMS Platform?
Members now expect to handle all previously in-person tasks online. Key features to include are:
- Digital lending services
- eSignature technology
- Digital onboarding
- Access to account information
- Digital banking services like P2P payments and ATM/branch locators
These features should be fast, efficient, and seamlessly integrated.
3 Benefits of a Superior Digital Member Experience
Increased Member Retention Rate Enhancing your digital member experience can lead to higher retention rates, positively impacting your credit union's long-term success.
Member Acquisition A quality DMS can generate real-time leads and assist seamlessly during the onboarding process, helping your credit union acquire new members.
Enhanced Member Relationships Adapt to the digital age by providing personalized attention online. Use data, AI, and features like push notifications to create a personalized DMS experience, strengthening member relationships.
Choosing the Right Technology Partner
The best way to improve your DMS platform is by choosing the right technology to support your system and create the best possible member experience. FLEX credit union core technology has helped hundreds of credit unions enhance their digital member service and online banking platforms.
FLEX has recently partnered with Glia, a leading provider in Digital Member Service. Together, they aim to revolutionize credit union member support by integrating all communication channels into one unified DMS experience. Click the button below to learn what this partnership could do for your credit union.
